Seagate (STX) Bank of America Tech Conference Transcript – 2025
- Seagate Technology is experiencing a more favorable alignment between exabyte growth and revenue, according to CFO Gianluca Romano.
- Romano explained that, historically, the industry saw consistent exabyte growth without a corresponding increase in revenue.
- Wamsi Mohan of Bank of America noted that Seagate's Analyst Day presented a bullish outlook with targets substantially higher than previously indicated.
Witness the strategic pivot of Seagate, as CFO Gianluca Romano unveils the company’s path to robust financial performance, a narrative driven by cloud business growth and improved alignment. At the Bank of America Securities 2025 Global Technology Conference, Romano highlighted a critically important shift from persistent oversupply issues, heralding a new era of revenue growth. Discover how Seagate is leveraging its cloud ventures to reshape its financial landscape, answering questions from analysts like Wamsi Mohan about industry adjustments. News Directory 3 breaks down Romano’s insights on the critical link between exabyte growth and revenue. See the evolution as the company capitalizes on rising demand.Discover what’s next for Seagate.
Seagate CFO discusses Cloud Business Growth, Industry Alignment
Updated June 3, 2025
Seagate Technology is experiencing a more favorable alignment between exabyte growth and revenue, according to CFO Gianluca Romano. Speaking at the bank of America Securities 2025 Global Technology Conference, Romano attributed this shift to the increasing importance of Seagate’s cloud business.
Romano explained that, historically, the industry saw consistent exabyte growth without a corresponding increase in revenue. This was largely due to oversupply in the market. However, the rise of cloud business, though starting from a smaller base, is changing the financial profile for seagate.
Wamsi Mohan of Bank of America noted that Seagate’s Analyst Day presented a bullish outlook with targets substantially higher than previously indicated. He inquired about the industry changes enabling this financial performance.
Romano said, “The change is a better alignment between exabyte growth and then revenue growth of something that we have not seen in the past… Main reason was an oversupply situation in the industry.”
What’s next
Seagate aims to continue capitalizing on the growing demand from its cloud business to further improve its financial performance and revenue streams.